loans and credit

Types of Loans

• secured

• unsecured

• open ended

• close ended

• tired loans

What type of loans do credit cards usually fall under?

• open ended

• close ended

• secured

What is an unsubsidized student loan?

• Where is government pays for it

• when the student pays for the interest and loan

• when government pays for interest rates

• a regular student loan

What is a direct subsidized student loan?

• when the government pays the interest on the loan.

• when your family pays for the loan

• When the student pays for the loan their self.

This type of rate stays the same throughout the loan.

• fixed rate

• tired rate

• adjustable rate

what type of loan can change at any time?

• Fixed rate

• Adjustable rate

• tired rate

What are the 5 C's?

• Character

• Capacity to repay

• Collateral

• Capital

• Credit score

What does LTV mean?

• Loan-To-Value

• Little TV

• Loan to visionary

• Loans

Examples of revolving credit

• Credit cards

• Store cards

• Lines of Credit

• Home and Auto loans

Whats the difference between a credit report & a credit score?

• Report; has lots of info and details throughout credit history. Score; a # generated off of reported info.

• Score; Information in a document explaining credit history. report; an automatic generated number